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February 11, 2022

Contract activities in midstream segment in Asia-Pacific up 19% in January 2022

By Carmen

The midstream segment contracts in Asia-Pacific registered an increase of 19% with 32 contracts in January 2022, when compared with the previous month’s total of 27 contracts, according to GlobalData’s oil and gas contracts database.

A total of 32 contracts were registered in the midstream segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 27 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 79 contracts in January 2022, followed by midstream and petrochemicals segments with 32 and five contracts, respectively.


Contract award activity in Asia-Pacific’s midstream segment during January 2022

In January 2022, China led the activity with 14 contracts and a 44% share of the midstream oil and gas contracts in Asia-Pacific. It saw an increase of 1400% over the previous month’s no contracts and an increase of 180% when compared with the last 12 month-average of five contracts in China.

In second place was Australia with six contracts and a 19% share, followed by South Korea with five contracts and a 16% share.

Based on 12-month moving average of the contracts in the midstream segment of Asia-Pacific, South Korea took the top spot with eight contracts, followed by China and Australia with six and four contracts, respectively.

Contracts by scope of work in Asia-Pacific’s midstream segment during January 2022

During the month, the majority of midstream segment contracts awarded in the Asia-Pacific were in the operations & maintenance with 12 contracts, followed by construction and procurement with 11 and 10 contracts, respectively.

Methodology

All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.

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